The BYD Song Plus is the best-selling vehicle in China for the first time.
New car wholesales in China markedly slow down their growth in October at +6.9% year-on-year vs. +25.7% in September, totalling 2,505,000 units for the month according to data from the China Association of Automobile Manufacturers (CAAM). This includes 2,231,000 passenger cars (+13.7%) and 273,000 commercial vehicles, still in a rut at -16.2%. Note production figures are once again even more impressive at +11.1% overall to 2,599,000 units including 2,334,000 passenger cars (+17.3%) and 265,000 commercial vehicles (-22.7%). Over the first 10 months of the year, wholesales are now up 4.6% to 21,975,000 units including 19,218,000 passenger cars (+14.2%) and 2,757,000 commercial vehicles (-32.8%). Production is up 7.9% to 22,242,000 including 19,551,000 PC (+16.9%) and 2,691,000 CV (-31.7%). CAAM expects the wholesales market to reach 27 millions units over the Full Year 2022 (+3%).
Chinese exports soar 46% year-on-year to 337,000 units, a new record. This figure includes 109,000 New Energy Vehicles/NEVs (+81.2%). Year-to-date exports are up 54.1% to 2,456,000 units including 499,000 NEVs . Sales of Chinese-branded passenger cars continue to spectacularly grab more and more market share as they gain 24.7% year-on-year to 1,187,000 and 53.2% share vs. 47.4% a year ago and 41.3% in October 2020. The year-to-date volume is now up 26.6% to 9,350,000 and 48.6% vs. 43.8% over the same period in 2021 and 37.2% in 2020. Sales of NEVs also hit a new record at +86.4% to 714,000 units including 541,000 BEVs (+66.6%). Year-to-date, NEVs are up a whopping 107.7% to 5,280,000 units including 4,120,000 BEVs (+96%) and 1,160,000 PHEVs (+166%).
New brand AITO breaks its volume record to over 12,000 units in October.
We have a massive event in the brands ranking: BYD (+131.1%) breaks its volume record for the 6th consecutive month to cross the symbolic 200,000 monthly units barrier and topple traditional leader Volkswagen (-1.9%). BYD had already taken the overall top spot last April but at the time the market was devastated by Covid lockdowns. This month’s victory is therefore the first one in “normal” conditions. No less than six BYD models break their volume record this month: the Song Plus (+140.8%) easily crossing the 50,000 monthly sales mark for the first time at over 56,000 units, the Han (+183.8%), Dolphin (+319.4%), new Yuan Plus (20,418), new Seal (11,267) and new Destroyer 05 (9,111). The Tang (+147.6%) also stand out. In contrast Volkswagen edges down this month as strong performances by the Viloran (+130.1%), CC (+114.2%), Golf (+103.1%), Tacqua (+101.8%), Magotan (+58.1%) and Polo (+50.4%) are offset by losses of the Phideon (-38.7%), Sagitar (-38.6%), ID.4 X (-37.8%), Tayron X (-37.1%), Teramont (-27.2%) and Tiguan L (-18.3%).
Toyota (+16.8%) posts a vigorous lift thanks to the Levin (+236.2%), Yaris L (+52.6%) and Wildlander (+43.6%) but mostly because of a raft of successful launches including the Front Lander (record 10,229), Corolla Cross (8,206), Sienna (6,802) and to a lesser extent the Harrier (3,388) and Venza (2,461). Honda (-25%) is in a bad way but manages to salvage its 4th spot ahead of a strong Changan (+18.4%). Geely (+10.7%) overtakes Nissan (-6.2%) in the year-to-date charts to rank #6 overall. Wuling (-26.8%) and Buick (-33.6%) lose control in the remainder of the Top 10 whereas GAC (+22.2%) climbs four spots on last month to #9 on the back of the success of its Aion EV sub brand. The only additional Top 20 market beater is Audi (+16.1%). Below, Neta (+122.2%), AITO (#30) and Zeekr (+4984.9%) all break their monthly volume record this month. NIO (+174.3%), Geometry (+144.9%), Leap Motor (+92.3%), Jetour (+51.4%), Volvo (+44.5%) and TANK (+24.7%) also impress just as Jetta (-37.9%) disappoints and can’t be called a success for Volkswagen.
The BYD Yuan Plus (aka Atto 3) is the most popular recent launch in China.
Over in the models ranking, the BYD Song Plus (+140.8%) easily scores its first ever monthly win with an almost 15,000 unit advantage over the #2, the Wuling Hongguang Mini EV (+5.4%). Still leader year-to-date, the Nissan Sylphy (+1.8%) is up one spot on last month to #3. The VW Lavida (-7.4%) follows while the BYD Han (+183.8%) breaks into the wholesales Top 5 for the second time this year after last May (#4). The Haval H6 (+8.3%) rallies back up 11 ranks on September to #6 and the Qin Plus (+14.2%) and Dolphin (+319.4%) make it four BYD in the Top 8, a new record. The Toyota Camry (-14%) and Corolla (+5.4%) round out the Top 10. Just outside, the Yuan Plus (record volume) is the 5th BYD in the Top 11 and leads recent launches well above the Changan UNI-V (#35), Changan Lumin (#40 and smashing its volume record at just above 12,000) and the BYD Seal (#49) also at record heights.
Full October 2022 Top 97 all brands and Top 502 all models below.